Ripple (XRP) price is up over 21% this week and has become the best-performing asset among major cryptocurrencies.
After the rough days in August, the XRP price traded in a range of $0.4422 to $0.5412 for about two months. However, the price managed to regain momentum by breaking through the current resistance levels.
The token broke through the $0.6398 resistance level and went on to surpass key levels such as $0.67 and $0.7, indicating a significant bullish trend since early August.
altcoin While recording a small correction of 3% on average, the price continues to hover near the $0.7 level and is expected to retest this level, although the outcome is uncertain.
The Relative Strength Index (RSI) is rising sharply, indicating significant buying and selling pressure. The averages show that the upward trend continues and the price is likely to rise in the coming days.
Ripple The recent rejection of the accusations against Labs’ senior executives by the SEC was one of the details that increased the interest in XRP. While the price briefly reached $0.7, the price corrected briefly.
What Awaits the XRP Price?
According to Fibonacci levels, the next important level for XRP is located around $0.94481. If the bulls can push the price to this level, it could test the $1 level with an expected upper level of $1.0675 in the first half of next year.
Koinfinans.com As we reported, if a strong bullish sentiment emerges with the Bitcoin halving, XRP could aim to reach its November 2021 high of $1,255.